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Fed Rate Hikes & Your Retirement: What to Know
The Federal Reserve Board has been hiking interest rates at near record pace since early 2022. While most people know that hurts borrowers and debtors seeking loans, as they must now pay more for them, how are ordinary retirees affected?…
Do These 3 Things Before Deciding to Retire in 2023
Maurie Backman advises against just jumping into retirement. First, people should figure out what monthly Social Security benefits will be. Benefits are highest for life by waiting until age 70. Second, determine how much annual income you’ll get from your…
Social Security Tips for Couples
John Csiszar reminds those getting ready to file for Social Security benefits that there is more to it than just considering one’s age. Married couplies need to be strategic to maximize benefits when one dies before the other. The author…
Should You Worry About Social Security’s Future? Yes.
Maurie Backman explains the Social Security insolvency issue in this piece. The program is not going bankrupt, and it is not going away. But there are financial challenges, as Social Security will be unable to pay full promised benefits as…
On Social Security? There’s Good News on Inflation
Maurie Backman reports on some good news once seniors start collecting their 8.7% cost of living adjustment (COLA) in January. Inflation appears to be easing,. If that trend continues, seniors may actually gain some buying power with their “raises.” Normally…
What Retirees Need to Know About the Upcoming COLA
Trevor Jennewine starts by tracing the history of the automatic cost of living adjustment (COLA) to 1975. He then explains four things retirees should know about the 2023 increase: 1.) It’s the largest in 40 years at 8.7%; 2.) The COLA…
When Big Raise is Coming
Social Security recipients are in line for a 40-year high cost of living adjustment (COLA) of 8.7%. But when? Aimee Picchi of CBS News Moneywatch explains it will show up in the second, third, or fourth Wednesday in January 2023.…
Nine “Out of the Box” Sources of Retirement Income
Selena Maranjian details the five most common sources of retirement income: Social Security, Dividends, Stocks, Interest, and Employment. But there are other, not so well known or thought of, ways to generate income for a healthy and secure retirement. They…
3 No-Brainers to Beat the Average Social Security Benefit
You’ve likely heard it all before– you can’t live on Social Security alone, and the 2022 average of $1,677 per month or $20,118 per year is a testament to that. Boosting it means working a full 35 years to avoid…
Retiring Early– One of the Worst Money Mistakes
It’s a dream for many, to retire in their 50s. But Chris Clark quotes economist Laurence Kotlikoff here who calls it, “one of the worst money mistakes” you can make. Why? The issue is mainly that Americans are terrible savers…